In Russia KPMG now has offices in Moscow, Saint-Petersburg, Ekaterinburg, Kazan, Krasnoyarsk, Nizhny Novgorod, Novosibirsk, Perm and Rostov-on-Don. We also have offices in 7 CIS countries. In Russia and the CIS KPMG now employs together over 4000 people.

The KPMG CIS Transparency Report for the year ended 30 September 2013 allows clear articulation of the steps that we take to uphold our professional obligations and responsibilities and make sure our services are consistently of the very highest quality.

Even though the current economic climate is creating uncertainty in relation to the potential economic growth of some countries, another 194 hotels with a total room stock of nearly 37,300 units are due to open in the region

Stay connected with KPMG and with your former colleagues. To keep you informed on KPMG news we publilsh K-Community quarterly on-line digest. We are also happy to hold annual Alumni meetings and offer our Alumni a broad range of career opportunities.

On 24 November 2014 the President of the Russian Federation signed Federal Law No. 376-FZ “On the Introduction of Amendments to Part One and Part Two of the Tax Code of the Russian Federation (Regarding the Taxation of the Profits of Controlled Foreign

On 4 August 2014 Federal Law No. 142-FZ “On Amendments to Articles 6 and 30 of the Federal Law “On Russian Citizenship” and Separate Legislative Acts of the Russian Federation” (hereinafter – the Law) entered into force.

The last KPMG Information Letter reviewed the key provisions of the prior draft of the “De-offshorization Law” prepared by the RF Ministry of Finance (“MinFin”) (dated 19 May 2014) which reflected discussions with the business community.

Dear colleagues,
We have learned that based on the results of the public discussion, the RF Ministry of Finance has prepared a new version of the de-offshorization draft law to be submitted to the RF Government (hereinafter the draft law).

On 9 April 2014 the Russian Ministry of Finance issued the Letter #03-00-РЗ/16236 which contains clarifications with respect to the general principles of determination of “actual recipient” of income for the purposes of application of Double Tax Treaties.

Resolution of the RF Government dated 31 October, 2013, № 977 “On determination of necessity in attraction of foreign employees into the Russian Federation and on approving of the quotas for year 2014”

More severe sanctions have been established for violation of the immigration law in Moscow, St. Petersburg, the Moscow Region and the Leningrad Region. Below, we describe the major newly adopted changes.

On February 6, 2013, the official website of the FFMS of Russia released the National Settlement Depository Notice of intention stating that it intends to maintain the register of REPO, derivatives and material agreements.

Due to the economic situation in Cyprus, the Government of Cyprus has proposed to enact several measures in the near future to receive an emergency financial aid package from the European Union and the IMF.

The Supreme Court has amended the inconsistencies of some provisions of the Administrative Regulation to the Federal law “On the legal status of foreign citizens inside the Russian Federation” of the 25 July 2002, No. 115-F3

Knowledge of the Russian language is mandatory for receiving an “ordinary” work permit for the citizens of visa exempt countries, who are employed in the housing and community public infrastructure, retail and household services sectors

On 3 November 2012 the RF Government (Resolution No. 1137 of the RF Government dated 3 November 2012) approved the quota on the issue of work permits to foreign citizens for 2013 at 1,745,584 work permits for Russia

On 22 August 2012 Russia will become the full member of WTO. From this date the new Customs Tariff of the Customs Union of Russia, Belarus and Kazakhstan, establishing the import duty rates, will enter into force.

However, recently the Supreme Arbitration Court published Decision № 4134/11 of 27 September 2011, which significantly enhances the tax risk that VAT will be denied if VAT invoices are signed by facsimile.

On 10 November 2011 the WTO’s working group approved a protocol that permits Russia to become a member of the WTO. The protocol also recommended that the ministerial conference, which is planned for 15-17 December, accept Russia as a WTO member.

On 11 August 2011, the Russian Federation approved a protocol that would amend the double-tax treaty between the Russian Federation and Luxembourg. In accordance with Russian Federal law, the protocol now needs to be ratified.

Currently, the protocol has been signed but has not been ratified. Before it enters into force, the country-parties must complete a series of procedures at the national level. The most likely date for the protocol’s entrance into force is 1 January 2013.

Pursuant to Federal Law # 393-FZ the agreement “On ratification of the agreement between the government of the Russian Federation and the government of the Republic of France regulating conditions of temporary employment for citizens.

On 19 July 2011 Federal Law # 245-FZ was adopted. The law significantly changes the VAT rules and will have a substantial impact on companies’ VAT liabilities. We have already analyzed the changes and are happy to present them to you.

KPMG International Cooperative ("KPMG International") is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-a-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.